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Fundhvyynp

Economics

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Create a PowerPoint presentation of 12-15 slides (not including the title and reference slides) discussing Economic Growth and Market Dynamics. Include the following:

  1. What is GDP and how is it measured?
  2. Evaluate the validity of using GDP as a measure of economic output.
  3. Explain how the consumer price index and GDP work together to measure price index change from year to year.
  4. Assess the importance of the business cycle relating to the labor market and economic activity.
  5. Select one formula for a key labor market indicator and give an example. Use the formula to explain how the labor market indicator measures labor force participation.

Be sure to include graphs, charts and other visuals in your presentation that will enhance your analysis. Include slide notes containing explanations and rationale.

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Economic growth and market dynamics
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GDP definitions


GDP is the gross domestic product of a country



The GDP is the market value obtained by a monetary measure of all the final goods and services
produced in a period of time



The period of the year should be quarterly, semi-annually or annually



It can be referred to as the total value of everything produced by the people and companies in the country



The GDP does not matter if those who participate in production are citizens of the country or they are
from foreign countries.

How to measure GDP.


The GDP is measured by the use of the various components that make up the gross domestic
product.



The components are:


Personal consumption expenditure



Business investment



Government spending



Exports minus imports



Therefore the Gross Domestic Product has to incorporate the four components for it to be
measured effectively and to reflect the true picture of the affairs of the state.



It uses the formula C + I + G + (X-M)

Importance of a GDP.


When the GDP of any country is measured and the value is known by the government
as well as the citizens it serves various roles in the growth of the country economy.



Importance


The GDP is a primarily indicator of the health of the country’s economy



It represents the value of the dollar of goods and services produced over a specific
time period.



Enables policy makers to analyze the impact of the variables in t...


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